Dublin | The steady growth of the global eLearning market is already well known in professional circles. Well-known market researchers such as Research for Markets, Global Market Insights or Research and Markets put the average annual growth rate in their forecasts at around 7 to 9 %. While there is broad consensus among market researchers on the growth rate, the corresponding calculated market value varies. In the new market study “E-Learning Market – Global Outlook and Forecast 2019-2024”, the Irish market researcher Research and Markets, which usually estimates market dynamics to be too low rather than too high, concludes that in 2024, approximately 238 billion people worldwide are likely to be using e-learning to generate sales. Research and Markts also expects the market to grow at an average annual rate of 8.5 %. Other market researchers take an even more positive view of the situation in terms of annual market value. For example, the US market researcher Global Market Insights estimates that by 2025 more than 300 billion dollars are likely to be generated in the global eLearning market.
The Irish market researcher Research and Markets sees reasons for the growth at least in the already mentioned market study in the growing demand for content by consumers, in the increased implementation of self-directed learning in companies as well as in the globally increased integration of eLearning in the educational systems. In in-company training, the area of talent promotion and employee retention is a growth market.
According to Research and Markets, the US market is the most important global market, but the APAC region is expected to show the highest growth rates in the forecast period. The European eLearning market is growing strongly, particularly due to corresponding government education initiatives. In Latin America, the millennial generation will provide for market growth, with the Brazilian market developing extremely dynamically.
Image: © Gregory Lee – stock.adobe.com
